The current national average score is 680. According to the credit bureaus:
- There are 22 states, plus the District of Columbia, that have an average credit score below the national average.
- There are 29 states that have an average credit score above the national average.
Average Credit Score by State that are below the National Average:
Average Credit Score by State that are near or above the National Average:
The following statistics reflect the average use of credit by today’s consumers:
Number of Credit Obligations
On average, consumers have a total of 13 credit obligations on record at a credit bureau. These include credit cards and installment loans. On average, 9 of the 13 are likely to be credit cards and 4 of the 13 are likely to be installment loans.
Past Payment Performance
Approximately half of all consumers have accounts reported as 30 or more days late on a payment. 23% have accounts reported with 90+ days overdue, and 20% have accounts closed by the lender due to default.
About 40% of credit card holders carry a balance of less than $1,000. About 15% have total card balances in excess of $10,000. Approximately 48% of consumers carry less than $5,000 of debt (excluding mortgages). Approximately 37% carry more than $10,000 of non-mortgage-related debt as reported to the credit bureaus.
Total Available Credit
The average consumer has access to approximately $19,000 on all credit cards combined. Approximately 1 in 7 is using 80% or more of their credit card limit.
Length of Credit History
The average consumer’s oldest obligation is 14 years old. About 1 in 20 consumers have credit histories shorter than 2 years.
The average consumer has had only one inquiry on his or her accounts within the past year. Fewer than 6% had four or more inquiries resulting from a search for new credit.